H&R Block (NYSE:HRB) Shares Climb 3.6% – Here’s What Happened

H&R Block, Inc. (NYSE:HRB) shares rose 3.6% during mid-day trading on Wednesday. The stock traded as high as $45.22 and last traded at $45.3940. 179,343 shares were traded during trading, a decline of 92% from the average daily volume of 2,321,110 shares. The stock had previously closed at $43.83.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HRB. Stephens initiated coverage on shares of H&R Block in a research report on Tuesday, July 28th. They issued an “equal weight” rating and a $47.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on H&R Block from $29.00 to $33.00 and gave the stock a “sell” rating in a research report on Wednesday, August 12th. Barrington Research boosted their target price on H&R Block from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Zacks Research upgraded H&R Block from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of H&R Block in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, H&R Block presently has a consensus rating of “Hold” and a consensus target price of $46.67.

H&R Block Trading Up 4.1%

The company has a debt-to-equity ratio of 12.69, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50-day simple moving average of $47.02 and a two-hundred day simple moving average of $40.28. The firm has a market cap of $5.59 billion, a PE ratio of 7.96, a price-to-earnings-growth ratio of 0.58 and a beta of 0.38.

H&R Block (NYSE:HRB) last announced its earnings results on Tuesday, August 11th. The company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.17. H&R Block had a negative return on equity of 214.84% and a net margin of 18.59%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm earned $2.27 EPS. H&R Block’s revenue for the quarter was up 255.5% compared to the same quarter last year. H&R Block has set its FY 2027 guidance at 6.040-6.240 EPS. As a group, sell-side analysts anticipate that H&R Block, Inc. will post 6.11 EPS for the current year.

H&R Block Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Thursday, September 3rd were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 4.0%. This is a positive change from H&R Block’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, September 3rd. H&R Block’s dividend payout ratio (DPR) is presently 32.17%.

Insiders Place Their Bets

In other news, insider Mark J. Darling sold 2,700 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $40.69, for a total value of $109,863.00. Following the sale, the insider directly owned 21,588 shares in the company, valued at approximately $878,415.72. This represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On H&R Block

Several hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC raised its holdings in shares of H&R Block by 50.9% in the first quarter. Lazard Asset Management LLC now owns 3,761,094 shares of the company’s stock worth $119,377,000 after buying an additional 1,269,064 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of H&R Block during the 2nd quarter worth $56,220,000. First Trust Advisors LP increased its stake in H&R Block by 26.2% during the first quarter. First Trust Advisors LP now owns 1,328,584 shares of the company’s stock worth $42,169,000 after acquiring an additional 276,193 shares during the last quarter. Lodge Hill Capital LLC boosted its position in shares of H&R Block by 31.2% during the first quarter. Lodge Hill Capital LLC now owns 1,050,000 shares of the company’s stock worth $33,327,000 after buying an additional 250,000 shares during the period. Finally, Boston Trust Walden Corp boosted its holdings in H&R Block by 15.3% in the first quarter. Boston Trust Walden Corp now owns 895,236 shares of the company’s stock valued at $28,415,000 after purchasing an additional 118,927 shares during the period. Hedge funds and other institutional investors own 90.14% of the company’s stock.

H&R Block Company Profile

H&R Block, Inc is a tax preparation and financial services company that helps individuals and small businesses manage tax filing and related financial needs. Its services are delivered through company-owned and franchise offices, online platforms and tax-preparation software, providing both assisted and do-it-yourself filing options.

The company offers federal, state and local tax preparation, tax planning and related support, along with products and services such as refund-related financial solutions, tax identity protection and small-business assistance.